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Nexstar to buy tegna?

Megatron said:
Can't see Gray buying Tenga more likely Scripps, Nexstar which if Nexstar buys Tenga I could see Gray buying WZZM, Raycom, Hearst etc.
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Gray just got WFXU recently out of Florida and a Vermont station. I'm not sure Gray is Gung Ho in Buying entire clusters like Nexstar and Sinclair have been doing.

Sinclair most notable for buying Bonten and Tribune

Nexstar most notable for buying Media General and the Tegna Deal is pending. I get the UHF discount is a factor here.
 
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RadioPatrol said:
Gray just got WFXU recently out of Florida and a Vermont station. I'm not sure Gray is Gung Ho in Buying entire clusters like Nexstar and Sinclair have been doing.

Sinclair most notable for buying Bonten and Tribune

Nexstar most notable for buying Media General and the Tegna Deal is pending. I get the UHF discount is a factor here.
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Yeah Gray seems to buy a station when mergers happen like Nexstar & MG when they bought WBAY which I know they managed for a time with Young Broadcasting when they almost went out of business.
 
I know Wood TV got rid Sue Geha in 2011 but no goodbye send off getting six figure which she is well off and is retired maybe doing local stuff for GR. Michelle has been with Fox17 for 18 years left this past May was an OG when Fox17 first launched there news in 99 Chris Frank retiring at the end of Oct from Fox17 as well he started off as the weekend anchor in 99 no one from 99 will be at Fox17 after Oct. Lee from WZZM retired last year he took the TEGNA buyout was there since 75 although was demoted to the investigation team in 2013.
 
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http://www.ftvlive.com/sqsp-test/2017/7/31/pushed-out-at-nexstar

Update Nexstar removes the CRO. Umm how much of this is really a move for management change to prepare for the Tegna Merger.

Nexstar boss Perry Sook is looking to save money and he just got rid of the Chief Revenue Officer to do it.

Wait!

Isn't the CRO the guy that brings money into the station?

Anyway, it appears that CRO Tom O’Brien was costing the cheaply run company more "R" then they wanted to spend.

FTVLive obtained the internal memo sent to the "Leaders of Nexstar Nation" and telling them that, "Tom O’Brien has decided to move on from Nexstar at the end of this month (tomorrow)".

Something tells old Tom's "decision" was made for him.

Here's the memo from Sook:

TO:Leaders of the Nexstar Nation
FR:perry A. Sook
RE:Transition
DA:7/28/17

After the successful integration of the Media General assets into Nexstar, we re-evaluated our organization structure to further streamline operations and as a result we have eliminated the Nexstar Media Group CRO position, moving these responsibilities into our two operating divisions, Nexstar Broadcasting and Nexstar Digital

As a result of this move, Tom O’Brien has decided to move on from Nexstar at the end of this month to pursue some other opportunities he’s interested in. I can’t thank Tom enough for all is contributions during his nearly 4 years at Nexstar. Under Tom’s leadership we’ve made substantial strides in advancing our go-to-market strategy and building our digital business.
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http://www.tvnewscheck.com/article/106271/nexstar-buys-zombie-station-wlwc-for-41m

Update Nexstar gets WLWC in Providence R.I. Now its unknown how this new deal will affect the Tegna/ Nexstar merger.

Nexstar Media Group on Monday agreed to acquire the non-spectrum operating assets of CW affiliate WLWC Providence, R.I. (DMA 52) for $4.1 million from OTA Broadcasting.

Nexstar said the transaction will be highly accretive to its operating results immediately upon closing, which is expected by early fourth quarter of 2017. Nexstar intends to finance the station acquisition with cash from operations.

OTA sold the WLWC spectrum in the FCC’s incentive auction and given that Nexstar’s agreement with OTA pertains to the purchase of the station’s remaining operating assets, the proposed transaction is not subject to FCC approval. The CW affiliation complements the existing programming and services delivered to viewers and advertisers in Providence by stations and digital platforms owned by Nexstar, or with whom Nexstar has a local service agreement, including WPRI (CBS), WNAC (Fox), MyNetworkTV and WPRI.com.

Commenting on the agreement, Tim Busch, president of Nexstar Broadcasting, said: “The WLWC-TV transaction reflects the ongoing execution of Nexstar’s successful long-term growth strategy to opportunistically expand our broadcast and digital platform through highly accretive acquisitions. The addition of the assets from WLWC-TV will allow Nexstar to generate incremental advertising and net retransmission consent revenue growth without increasing our total U.S. television household reach. The acquisition is leverage-neutral on a pro-forma basis, and the purchase price represents a very low multiple of the pro forma contribution to Nexstar’s operating results, given the anticipated operating synergies and elevated advertising and distribution revenues.

“Importantly, as our organization grows, we continue to simultaneously elevate our support of the evolving needs and interests of our local viewers, hometown businesses and community organizations that we proudly serve each day. We intend to continue WLWC-TV’s legacy of local programming and community orientation and look forward to delivering more exceptional primetime, syndicated, sports and local news programming to Providence viewers later this year.”
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